US pivots from climate laggard to global leader
Historic new law aims to cut greenhouse emissions 40% in 8 years
Passage of America’s biggest ever climate change action plan by Congress marks a historic turning point in the planet’s most urgent priority.
It will transform the US from a scandalous laggard on the climate emergency to a model for the world.
The ramifications of the new US commitment in the Inflation Reduction Act are enormous. So is the price tag: Almost $400 billion at the federal level alone, not counting billions more by the states.
It puts the country on track to reduce greenhouse emissions up to 40% by 2030. That’s close to the Paris goal – which is now within reach!
It’s a huge win for President Joe Biden and the Democrats. It passed despite near total opposition from Republicans in Congress.
The transformation of America from the world’s worst polluter to its potential savior is going to have enormous impact domestically and globally.
Unlike failed previous attempts to address global warming – which would have relied primarily on carbon caps, mandates and taxes to reduce emissions – the Inflation Reduction Act (IRA) relies almost exclusively on dozens of financial incentives.
They are numerous and generous.
Key provisions of the energy and climate parts of the 700-page law were detailed by the Bipartisan Policy Center in its Aug. 4 review Inflation Reduction Act Summary: Energy and Climate Provisions
According to the non-partisan report, to attain gross reductions in US greenhouse gas emissions of 31% to 44% by 2030, the law employs dozens of tax credits for production of renewable energy and clean electricity via solar, wind, geothermal and hydro plants.
It uses the same tool – tax credits – to encourage consumers to switch: homeowners will get tax breaks for residential solar and wind generators, energy efficient appliances, electric cars … and innumerable other categories.
The IRA provides direct subsidies for energy innovation, community installations, energy “justice” grants and a host of other projects. Also in the toolbox are loans and loan guarantees for clean energy development.
It’s no wonder the politicians loved it; it’s stuffed with goodies for every conceivable constituency.
The cheering from those concerned about climate change and clean energy began earlier, almost immediately after the US Senate approved the IRA by the slimmest of margins 51-50, with Vice President Kamala Harris casting the deciding vote in a rare Sunday session.
After the Senate vote, there was no doubt the measure would be approved by the House of Representatives, which is controlled by a Democratic majority. It passed on Aug. 12.
One of the largest and best known groups, the Natural Resources Defense Council, an international nonprofit environmental organization with more than 3 million members, used ecstatic language in its celebration.
“The Senate just made climate history. This is the most significant action the U.S. has ever taken to combat climate change,” said Manish Bapna, president and CEO of NRDC.
According to the group, the law will benefit the people of all 50 states – their health, their wallets, their homes and their future. And it will help the U.S. deliver on its undeniable responsibility to the rest of the world to do its part to address this global crisis.
“It could not come soon enough. This law puts the nation’s goals for combating climate pollution within reach, while millions are suffering through yet another summer of extreme weather disasters,” Bapna said.
The NRDC also noted the new law will lower consumer’s electric bills and make electric vehicles more affordable. It will create hundreds of thousands of new clean energy jobs, and make significant reductions in the federal deficit.
This sentiment was echoed by an industry group, the Solar Energy Industries Association which counts over 1,000 solar companies among its members.
“Today is a monumental day for America’s clean energy progress and global climate leadership,” said Abigail Ross Hopper, president and CEO of the SEIA.
“This legislation is the most transformational investment America has ever made in our climate future, and we are thankful to our members, the clean energy community and every one of our solar champions in Congress for their work to get us to this historic moment,” she said.
“The United States is poised to lead the world’s clean energy transformation while lowering costs for families. We look forward to … this new era of American leadership.”
Not to be outdone, in an Aug. 7 statement the advocacy group American Clean Power was similarly enthusiastic.
“This is the vote heard around the world. It puts America on a path to creating 550,000 new clean energy jobs while reducing economy-wide emissions 40% by 2030,” said Heather Zichal, CEO of the American Clean Power Association.
“This is a generational opportunity for clean energy after years of uncertainty and delay.
“This unprecedented investment in clean energy will supercharge America’s clean energy economy and keep the United States within striking distance of our climate goals,”she added.
The language used by another advocacy organization, the American Council on Renewable Energy was similar
“The Senate’s passage of the Inflation Reduction Act of 2022 is a historic step toward the clean energy future the American people want, and scientists say we desperately need,” said Gregory Wetstone, president and CEO of ACORE.
“The legislation’s landmark investment of $369 billion in climate and clean energy programs will help deploy thousands of megawatts of renewable power, create hundreds of thousands of good-paying American jobs, reduce the cost of electric power, and finally put the country on track toward achievement of our climate goals,” Wetstone said.
US rejoins battle for survival
Americans can hold their heads up higher today because the US has rejoined the global community in its battle for survival against an existential threat.
We are on track to have the hottest year in recorded history – following eight years which were the hottest such period ever, according to NASA. Average global temperatures are already 1.1°C above pre-industrial levels.
There’s no time to lose if we are to meet the goals of the Paris Agreement and limit temperature rise to 1.5°C. If we fail, the consequences are too horrible to contemplate.
As the world’s worst historical polluter, the US has a special responsibility to help avoid climate catastrophe. It’s been a laggard far too long.
The more cynical among us might see this multi-billion dollar new US commitment simply as enlightened self-interest. It’s tempting!
But let’s put aside the decades of dithering and downright obstructionism on the increasingly evident threat to celebrate a historic milestone.
For that’s what it is: It’s historic, and a turning point for humankind. As it plays out over the next decade, we’ll soon discover if it is enough. Let’s hope it is!
It's a HUGE victory for Democrats and Joe Biden. They need to tell the whole world about it again ...
and again ... and again!
Not a single Republican voted for it. What a disgrace!
Does anyone know if there are incentives for owners of rental properties? This is really important. A lot of people don't own homed. We all know about these investors who buy barely liveable houses. Make a few repairs and then rent them. Most of these rentals will decay and be sold at tax sale becoming the burden of taxpayers. I am a renter. My property owner has 100s of homes. We must address these houses too.